NZTE to attract more regional investment

New Zealand
Trade and Enterprise is to establish a new regional
investment attraction programme to encourage more
international firms to invest in New Zealand’s regional
economies, Economic Development Minister Steven Joyce
says.

NZTE will work in partnership with regions
around the country to create comprehensive investment
profiles that outline the strengths of the particular
regional economy, the opportunities for investment, and what
the region can offer to investors.

“We know there
are big opportunities for New Zealand from the massive
growth in the numbers of consumers across Asia. However,
companies these days can invest their money wherever they
like around the world. The challenge for each of New
Zealand’s regions is to showcase the real opportunities
for competitive businesses in their region, and this
programme will help them do it in a more systematic way,”
Mr Joyce says.

The NZTE regional investment
attraction programme is part of the agency’s work to
mobilise capital from domestic and international sources to
help lift exports and grow New Zealand’s economy. This
includes the new “Better by Capital” service which helps
companies to understand the capital raising process to fund
their international growth.

“The regions that are
doing the best are those that have a clear positive approach
that welcomes investment and new opportunities,” Mr Joyce
says.

“The profiles will allow regions to clearly
lay out the advantages they offer investors in terms of
natural resources, infrastructure, the availability of
skilled workers, and innovation hubs that support
investment.

“NZTE will also provide a toolkit,
training, and assistance for regional economic development
agencies to better support investor engagement, guidance,
and due-diligence.”

To help create and further
develop these investment profiles, the Government is
commissioning a number of Regional Growth Studies to
evaluate growth opportunities in particular regions. These
detailed in-depth reports will identify areas of existing
economic strength and where opportunities for further growth
lie, with a particular focus on the primary sector.

“In commissioning the Regional Growth Studies, the
Government will work alongside regional stakeholders such as
regional councils and economic development agencies. Local
input into the reports will be vital to ensure they are
evidence-based and comprehensive,” Mr Joyce says.

“The first study, for the Gisborne/Hawke’s Bay
region, arose out of discussions with Regional Councils last
year and is nearly complete. A request for proposals for the
Northland study was released yesterday by the Ministry of
Business Innovation and Employment alongside the Ministry of
Primary Industries, and additional studies will be
considered in partnership with other regions.

“The
latest data shows that it is the regions that have been
clearly leading New Zealand’s recovery out of the GFC.
Today’s announcements will further accelerate this
progress.”

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